MARVIN MANDEL, Governor

443

not be less than One Thousand Dollars ($1,000.00) each
but may be in sums of One Thousand Dollars ($1,000.00) or
any suitable multiple thereof, and the place or places
for the payment of principal and interest thereof;

(d)    The rate or rates of interest to be paid
in connection with the bonds to be issued at any
particular time, which interest shall be payable
semi—annually;

(e)    Subject to the limitations set forth in
Section 1 of this Act, the date of the bonds issued at
any particular time and the maturity dates of said bonds,
including the right of redemption by the City prior to
maturity;

(f)    The time, place, manner and medium of
advertisement of the readiness of the Commissioners of
Finance to receive bids for the purchase of the bonds
authorized to be issued hereunder, or any part thereof;
the form, terms and conditions of such bids; the time,
place and manner of awarding bonds so bid for, including
the right whenever any of the bonds authorized by this
Act are offered for sale and sold at the same time as
other bonds of the City, to establish the conditions for
bids and awards and to award all of said bonds on an all
or none basis; and the time, place, terms and manner of
settlement for the bonds so bid for.

The ordinance to be submitted to the legal voters of
Baltimore City, or the resolution of the Commissioners of
Finance authorizing the issuance of said bonds, or any
portion thereof, as the case may be, shall set forth in
detail the dates when any of the bonds are to mature and
the amount to mature upon such dates.

SECTION 3. AND BE IT FURTHER ENACTED,      That the

actual cash proceeds derived from the sale of    the bonds

authorized to be issued under the provisions of    this Act,

not exceeding the par value thereof, shall      be used
exclusively for the following purposes, to wit:

(a)    So much thereof as may be necessary, in
addition to the premiums realized from the sale, if any,
for the cost of issuance, including the expense of
engraving, printing, advertising, attorney's fees, and
all other incidental expenses connected therewith; and

(b)    The remainder of such proceeds shall be
used for the purpose of extending, improving and
modernizing the lighting system used for the illumination
of the highways, streets, alleys and other public ways in
the City of Baltimore, including, but not limited to, the
conversion of ornamental incandescent residential street
lighting units and facilities to other units and
facilities, and the acquisition, installation and
erection of any and all materials, equipment, lighting